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Jan 4, 2013
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obviously with the debt ceiling, the big problem right in front of us, conservatives will say, look, we need to leverage that, because we can't keep the democrats from spending unless we have a really, really powerful tool and the debt ceiling's a very powerful tool. on the other hand, democrats are saying, are you kidding me? that's not the kind of tool you should be using. and we actually do hear conservatives and business leaders saying the same thing as democrats it seems. don't be using that. it's killing us. i'd love to get your perspective on that. >> it's a very dangerous tool. it's one that i hope people only threaten to never use. because if we stop paying our bills, that will have as a country, that will have a massive impact on our economy. and it basically will remove what is the full faith and credit of the united states. this is something that we have as an asset we are basically the world's reserve currency and this can all change if all of a sudden we stop paying our bills. so, you know, it is a very dangerous weapon. and, you know, in many ways you can call it the n
obviously with the debt ceiling, the big problem right in front of us, conservatives will say, look, we need to leverage that, because we can't keep the democrats from spending unless we have a really, really powerful tool and the debt ceiling's a very powerful tool. on the other hand, democrats are saying, are you kidding me? that's not the kind of tool you should be using. and we actually do hear conservatives and business leaders saying the same thing as democrats it seems. don't be using...
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Jan 9, 2013
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still facing that $16.4 trillion debt ceiling coming up. why is the white house so sure jack lew is the man? >> because he is a budget guy. he has seen it is in surplus and deficits. there is no surprise that timothy geithner, the last remaining holdout of the original circle of economic experts is happy to be moving on to the next thing. he has been serving through a lot of crisis after crisis. and now jack lew does not have time to measure for drapes at the treasury department. he is going to have to get right down to business negotiating a very tough debt ceiling deal. one of the things that you hear on wall street is that he will be easily confirmed why he is a safe choice by the president. some folks on wall street, republicans mostly, saying they are slightly concerned that he doesn't have more financial market experience and more business experience. he is a budget guy. we live in an era of budget wars so that is a plus. >> what does he bring that geithner doesn't or does he? >> geithner knew the bankers and knew wall street and how
still facing that $16.4 trillion debt ceiling coming up. why is the white house so sure jack lew is the man? >> because he is a budget guy. he has seen it is in surplus and deficits. there is no surprise that timothy geithner, the last remaining holdout of the original circle of economic experts is happy to be moving on to the next thing. he has been serving through a lot of crisis after crisis. and now jack lew does not have time to measure for drapes at the treasury department. he is...
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Jan 5, 2013
01/13
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let's start with the debt ceiling. president says he's not going to negotiate. so how far will house republicans push on this vote to try to leverage spending cuts? >> i think they're going push pretty far. you know, as the conservative "wall street journal" editorialized yesterday, "the wall street journal" giving house with republicans some advice, they said don't take a hostage you aren't prepared to shoot. and i think that that's the view among a lot of republicans in the house that they're not going to take this hostage, the debt ceiling, unless they're prepared to hit it. and remember last time we went through this, there were quite a few republicans who actually argued that it would be okay to hit the debt ceiling, that it wouldn't be as catastrophic as the white house and the treasury department and most economists believe. so i think it's -- i think it's very real, and when you have a senator like john cornyn threatening to shut the government down, we're in for a pretty serious fight here. >> well, we know that congress had a year and a half, essential
let's start with the debt ceiling. president says he's not going to negotiate. so how far will house republicans push on this vote to try to leverage spending cuts? >> i think they're going push pretty far. you know, as the conservative "wall street journal" editorialized yesterday, "the wall street journal" giving house with republicans some advice, they said don't take a hostage you aren't prepared to shoot. and i think that that's the view among a lot of republicans...
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Jan 6, 2013
01/13
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the debt ceiling is the legal limit on the nation's borrowing. in his weekly address, the president says he's taking a hard line on the issue. >> one ning i will not compromise over is whether or not congress should pay the tab for a bill they have already racked up. if congress refuses to kbif the united states its ability to pay its bill on top, the consequences could be catastrophic. last time congress threatened this course of action, our economy suffered for it. our families and our businesses can not afford that dangerous game again. >> on the first day of the new congress, lawmakers introduced nearly a dozen bills related to gun violence. they come in the wake of the connecticut school shooting and promises from president obama to take concrete action to avoid another tragedy. >> reporter: as students at sandy hook elementary return to class, former congresswoman gabrielle giffords, nearly killed in a mass shooting two years ago visited newtown, connecticut. and on capitol hill, lawmakers arrived to begin a new session of congress. with me
the debt ceiling is the legal limit on the nation's borrowing. in his weekly address, the president says he's taking a hard line on the issue. >> one ning i will not compromise over is whether or not congress should pay the tab for a bill they have already racked up. if congress refuses to kbif the united states its ability to pay its bill on top, the consequences could be catastrophic. last time congress threatened this course of action, our economy suffered for it. our families and our...
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Jan 4, 2013
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now, the debt ceiling is for real. we come up against a borrowing limit and the government has to stop paying bills and it is a blunt instrument. i don't think either side wants to blow through the debt ceiling. i think we have to take a little bit of this blusterer with a grain of salt. what we want to take away from this whole period of time. when the government cuts spending it has a negative impact on growth. in the short run it hurts growth. if you look over in europe and austerity measures and governments pull back not so good for economic growth. when we say we want to fix the debt and deficit we have to be careful how soon and how quickly it occurs. >> kind of like after the holidays when you are feeling a little heavy you have to keep eating but you have to be a little more careful. >>> so jill gave us that news. i have other news for you, too. republicans attacking their own after speaker boehner refuses to hold a vote for aid for victims of superstorm sandy. today the vote. my next guest says this fight is a
now, the debt ceiling is for real. we come up against a borrowing limit and the government has to stop paying bills and it is a blunt instrument. i don't think either side wants to blow through the debt ceiling. i think we have to take a little bit of this blusterer with a grain of salt. what we want to take away from this whole period of time. when the government cuts spending it has a negative impact on growth. in the short run it hurts growth. if you look over in europe and austerity...
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Jan 10, 2013
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we have on march 1 a debt ceiling debate looming. getting somebody that's already in the game i think was something the president thought about in picking him. >> yeah, the president wanted jack lew. he's going to get jack lew. presumably there will be a fight, a few republicans who will ask him very tough questions and probably in the end vote against his confirmation. but i suspect barring some major expose or something that we don't know he's been confirmed several times in the past. here he comes, the president will be introduced. >> geithner and mr. jacob lew. >> good afternoon, everybody, please have a seat. a little more than four years ago, i stood with mr. tim geithner and announced him as my first nominee to my cabinet. we were barely two months into the financial crisis, the stock market had cratered, the housing market had cratered, as well. bank after bank of on the verge of collapse. and worst of all, more than 800,000 americans would lose their jobs in just that month. and the bottom was not yet in sight. so i couldn't
we have on march 1 a debt ceiling debate looming. getting somebody that's already in the game i think was something the president thought about in picking him. >> yeah, the president wanted jack lew. he's going to get jack lew. presumably there will be a fight, a few republicans who will ask him very tough questions and probably in the end vote against his confirmation. but i suspect barring some major expose or something that we don't know he's been confirmed several times in the past....
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Jan 7, 2013
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i don't like the concept of using the debt ceiling as a negotiating tool because the debt ceiling is a process by which you authorize payment for spending you've already taken on, you've already approved. but a month after our debt ceiling debate, we have an actual government shutdown proposal, that is, a proposal to keep funding the government over the next six months. very short-term measure. why does that exist? l.z. said, why do we keep putting those out there? it's because two reasons. the government has not passed a budget for four years. budgets are just policy plans. they don't actually authorize spending. still it shows some responsibility, and the government's neglected to do that for almost four years. in the short term, the senate has also not taken up the responsibility of passing appropriations bills. those that actually authorize spending. so we have these short-term government funding mechanisms. you did the story, i'm sure, six months ago, carol, a year ago, over government shutdowns, and we're going to do this as long as they don't figure out how to set spending pla
i don't like the concept of using the debt ceiling as a negotiating tool because the debt ceiling is a process by which you authorize payment for spending you've already taken on, you've already approved. but a month after our debt ceiling debate, we have an actual government shutdown proposal, that is, a proposal to keep funding the government over the next six months. very short-term measure. why does that exist? l.z. said, why do we keep putting those out there? it's because two reasons. the...
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Jan 8, 2013
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could avoiding the debt ceiling be as easy as minting a coin? there is a debate going on right now, i don't know how serious it is but there is a debate going on on whether the united states can create a coin worth $1 trillion, a $1 trillion coin. alison kosik is at the new york stock exchange. i love this story even though it's not real but just fun. >> i hate to burst your bubble, not likely to happen but it is legal. let's play the what if game, has a little more room to run. we know the treasury department with mint and issue platinum bouillon coins. deposit it at the fed and the treasury could pay off its debts and we wouldn't have to deal with watching the catfight on capitol hill with dealing with the debt ceiling. paul krugman, the "new york times" columnist says it's a game mick but says in an op-ed that ran yesterday in the "new york times" says the trillion-dollar coin should be printed. we should sit down like serious people and deal with probably seriously. that may sound reasonable but if you've been living in a cave for the past f
could avoiding the debt ceiling be as easy as minting a coin? there is a debate going on right now, i don't know how serious it is but there is a debate going on on whether the united states can create a coin worth $1 trillion, a $1 trillion coin. alison kosik is at the new york stock exchange. i love this story even though it's not real but just fun. >> i hate to burst your bubble, not likely to happen but it is legal. let's play the what if game, has a little more room to run. we know...
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Jan 8, 2013
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. >>> republicans think the debt ceiling law is there to police government spending. i'll tell you why they're wrong and big surprise here, rush limbaugh talking out of his elbow again. i'm ali velshi. this is your money. up first, aig. >> we repaid every dollar america lent us. >> everything, plus a profit of more than $22 billion. >> for the american people. >> thank you, america. >> helping people recover and rebuild, that's what we do. now, let's bring -- >> aig, the massive insurance company that was at the center of the 2008 financial crisis was taking those ads to thank america for having its back and reminding us in not so subtle terms that taxpayers earned better than a $22 billion profit on the $182 billion bailout that aig got from taxpayers. now, i don't know what you do when you're grateful for something, but i'll tell you what aig is considering doing. biting the hand that fed them. aig's board is considering joining a lawsuit brought by shareholders in 2011 against the u.s. treasury department and the federal reserve that claims the $182 billion bailout
. >>> republicans think the debt ceiling law is there to police government spending. i'll tell you why they're wrong and big surprise here, rush limbaugh talking out of his elbow again. i'm ali velshi. this is your money. up first, aig. >> we repaid every dollar america lent us. >> everything, plus a profit of more than $22 billion. >> for the american people. >> thank you, america. >> helping people recover and rebuild, that's what we do. now, let's bring...
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the debt ceiling comes up at the end of february and will you vote to increase the debt ceiling? >> well, i have to see what is presented, but i would be hard-pressed to vote for that. you know, at what point do we stop this? the most tangible example that i could give to someone watching right now, maybe a mom, a dad, a hard-working american, if you had a financial adviser that put you $2 million in debt, ripped through your savings, ripped through your college savings for your kids, and then told you that you need more money, they need more money to solve the problem, would you give the financial adviser more money to solve the problem and the answer is no. we need to stop the spending and it's not just about cutting, victor. it's about saving. it's about saving medicare. it's about saving social security and until we have true reform, tax reform and reform on medicare and social security, only then will we begin to save it for today's generation, and people like my kids. >> congressman trey radel, i'm still going to call you congressman, you worked for the title and deserve it
the debt ceiling comes up at the end of february and will you vote to increase the debt ceiling? >> well, i have to see what is presented, but i would be hard-pressed to vote for that. you know, at what point do we stop this? the most tangible example that i could give to someone watching right now, maybe a mom, a dad, a hard-working american, if you had a financial adviser that put you $2 million in debt, ripped through your savings, ripped through your college savings for your kids, and...
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we expect, of course, a vigorous debate over the debt ceiling. by late february and early march they have to decide whether or not to raise the ceiling or risk economic chaos. the automatic spending cuts put off this week will hit march 1st. the deal only delayed them, so it didn't really solve the problem. funding for the government runs out on march 27th unless a new revenue bill is passed. >>> with all that is coming up, we want to bring in alison kosik in the new york stock exchange to talk about how people are reacting to the news. we know there's a higher payroll tax everybody got hit with here, but there were some breaks for a lot of families. so how does it balance out? >> here's some of the positive that came out of all that political posturing. the fiscal cliff deal did include some savings for families and in some cases it could amount it to thousands of dollars. these are mostly for low income families. the first one out of this is it preserved the child tax credit. that's about $1,000 credit per chi child. this is for people going to
we expect, of course, a vigorous debate over the debt ceiling. by late february and early march they have to decide whether or not to raise the ceiling or risk economic chaos. the automatic spending cuts put off this week will hit march 1st. the deal only delayed them, so it didn't really solve the problem. funding for the government runs out on march 27th unless a new revenue bill is passed. >>> with all that is coming up, we want to bring in alison kosik in the new york stock...
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Jan 10, 2013
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the debate is about the debt ceiling. ke sequester and budgets. no learning for lew. he is qualified to take on the budget battles about to engulf washington right now. on the money menu, china sees trade soar in diagram. before you change the channel, understand that china's gain is a sign that things are picking up here in the united states. exports jumped 14% at the end of the year compared to 12 months ago. that's important because the economy has been slowing down for seven quarters likely because of malaise. i have been saying things are starting to look up for the u.s. economy in 2013 and a boost in imports is one of the indicators that tend to confirm the sentiment. the one thing that could ruin this is the battle on capitol hill. democrats and republicans resulted to tactics that cost the u.s. the iron clad credit rating. the economy suffered. president obama will want the tax revenue hikes to any spending cuts that republicans insist on. to do that they would have to tap into politically sensitive deductions and for perspective, the deducks and exclusions co
the debate is about the debt ceiling. ke sequester and budgets. no learning for lew. he is qualified to take on the budget battles about to engulf washington right now. on the money menu, china sees trade soar in diagram. before you change the channel, understand that china's gain is a sign that things are picking up here in the united states. exports jumped 14% at the end of the year compared to 12 months ago. that's important because the economy has been slowing down for seven quarters likely...
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Jan 9, 2013
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he was a key player during the 2011 debt ceiling talks that almost shut down the government. going to have his work cut out for him. democrats and republicans on capitol hill gear up for that battle over extending the debt ceiling with the global embarrassment that serves as economic policy debate in washington these days. i have a hunch tim gheit neeith won't miss taking part in another one of those showdowns. >>> aig made the right decision, the decision not to join a crabby shareholder lawsuit against the u.s. government. probably heard by now about the lawsuit, led by former aig ceo maurice hank greenberg. it claims the terms of the $182 billion government bailout which saved the company possibly planet earth as well from financial meltdown were too harsh. the lawsuit was looking for $25 billion. pretty outrageous. but the board did have a responsibility to take a look at the lawsuit and decide whether or not to join it. the company's board met today and made the right decision. the case will go forward, however. aig won't be a party to it. the government has divested its
he was a key player during the 2011 debt ceiling talks that almost shut down the government. going to have his work cut out for him. democrats and republicans on capitol hill gear up for that battle over extending the debt ceiling with the global embarrassment that serves as economic policy debate in washington these days. i have a hunch tim gheit neeith won't miss taking part in another one of those showdowns. >>> aig made the right decision, the decision not to join a crabby...
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Jan 6, 2013
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the debt ceiling, not important, at least according to newt gingrich. at least they are not to him. details on why newt says it is time for washington to take a good look in the mirror. >>> 2013 is proving to be moore expensive for many americans. we will show you the top ten items that will cost you more this year. just use your maxperks card and get a case of x-9 paper for only 1-cent after maxperks rewards. find thousands of big deals now... ...at officemax. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that? geico. just click away with our free mobile app. [ male announcer ] when diarrhea hits, kaopectate stops it fast. powerful liquid relief speeds to the source. fast! [ male announcer ] stop the uh-oh fast with kaopectate.
the debt ceiling, not important, at least according to newt gingrich. at least they are not to him. details on why newt says it is time for washington to take a good look in the mirror. >>> 2013 is proving to be moore expensive for many americans. we will show you the top ten items that will cost you more this year. just use your maxperks card and get a case of x-9 paper for only 1-cent after maxperks rewards. find thousands of big deals now... ...at officemax. excuse me, sir i'm gonna...
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Jan 5, 2013
01/13
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the debt ceiling is the legal limit on the nation's borrowing. in his weekly address, the president says that he is taking a hard line on the issue. listen. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already racked up. if they refuse to give the united states the ability to pay their bills on time, the consequences for the entire global economy could be catastrophic. the last time congress threatened this action, our entire economy suffered for it. our families and our businesses cannot afford that dangerous game again. >> as you would expect, republicans are also drawing a line despite approving the fiscal cliff compromise it, gop lawmakers say the deal was missing long-term spending cuts. >> the simple truth is that we are in this fiscal mess because washington takes too much of your money and then wastes it. that's the real problem. and it needs a real solution. we have to make sure washington is accountable for every tax dollar it spends. we have to make sure that your money is spe
the debt ceiling is the legal limit on the nation's borrowing. in his weekly address, the president says that he is taking a hard line on the issue. listen. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already racked up. if they refuse to give the united states the ability to pay their bills on time, the consequences for the entire global economy could be catastrophic. the last time congress threatened this action, our entire...
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Jan 12, 2013
01/13
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not right now with the debt ceiling and bigger issues looming. >> what do you think of jack lew? he's to replace tim geithner. seems that we're on the verge of a different kind of philosophy now. >> yeah. i think what's interesting is barack obama is getting to people who are closer to him. jack lew used to be chief of staff. obama's like, look, my first term i was getting all the people to make america happy. now i'm getting people to do what i want them to do. a lot of people didn't like how fiter in did the job so obama is putting his own thumb on this one. >> people said he's too much like the president or backing his policies. i thought isn't that why you pick people for your cabinet? >> exactly. that's what barack obama wants to do. he is now safe. he doesn't have to worry about running ever again. so he's like, look, i'm going to put my stamp on america whether you like it or not. >> a lot has been said about this, that in many ways the new cabinet, the high posts are older white men, not reflective of american society. there have been a number of women that have clearly -
not right now with the debt ceiling and bigger issues looming. >> what do you think of jack lew? he's to replace tim geithner. seems that we're on the verge of a different kind of philosophy now. >> yeah. i think what's interesting is barack obama is getting to people who are closer to him. jack lew used to be chief of staff. obama's like, look, my first term i was getting all the people to make america happy. now i'm getting people to do what i want them to do. a lot of people...